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a <br />T <br />South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - March 31, 1994 <br />NEW BUSINESS (Cont.) <br />a. continued... <br />Mrs. Kolata explained that the Commission <br />approved a loan to Carol Smith in connection <br />with the rehab of 1010 W. Jefferson. Once <br />the HDC started working on the property it <br />became apparent that plaster in several rooms <br />needed to be replaced instead of repaired. <br />Under that plaster were disintegrating gas and <br />water pipes which also needed to be replaced. <br />These emergency repairs were immediately <br />made, but have increased the cost of the <br />rehab for an additional $5,755. This brings <br />the total cost of the rehab up to a number that <br />is more than the after rehab value of the <br />house. The Bureau of Housing recommends <br />making a grant of the $5,755. <br />Upon a motion by Mr. Piasecki, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the Grant in <br />connection with the West Washington Loan <br />Program for property located at 1010 W. <br />Jefferson. (Carol Smith) <br />b. Commission approval requested for grant and <br />loan in connection with the West Washin on <br />Loan Program. <br />Name <br />Address <br />Gladys L. Smith 228 Laurel <br />Mrs. Kolata noted that the total amount of <br />the work to be done is $30, 462.00. The <br />loan is in the amount of $21,000 with a grant <br />of the remaining $9,462. The term of the <br />COMMISSION APPROVED THE GRANT IN <br />CONNECTION WITH THE WEST <br />WASHINGTON LOAN PROGRAM FOR <br />PROPERTY LOCATED AT 1010 W. <br />JEFFERSON. (CAROL SMITH) <br />Loan Amt. Payment <br />$21,000.00 $58.33 <br />-10- <br />